BIC expands presence in Africa
| 27 July, 2019
BIC has signed a definitive agreement to acquire 100% of Lucky Stationery. The closing is expected end of 2019.
LSNL is Nigeria’s number one Writing Instruments manufacturer, with approximately 5 million euros in Net Sales and approximately 30% market share in volume. Its main Writing Instrument manufacturing facility is currently located in Ilupeju-Lagos and will be relocated to a new modern facility north of Lagos in Shagamu.
BIC has been operating in Nigeria for more than forty years through a distribution partnership with CFAO – Nipen. LSNL’s brand, product portfolio, and distribution network will strengthen BIC’s current position in Nigeria.
“After the transfer of HACO’s Kenyan Stationery business to BIC last year, the acquisition of LSNL is another key accelerator for BIC’s growth in Africa. This is our fourth facility in Africa, complementing BIC’s Writing Instrument manufacturing footprint in the fast-growing West African region, making BIC the clear number one Stationery manufacturer in one of the most dynamic and promising consumer markets in the world,”said Gonzalve Bich, BIC Chief Executive Officer.